In the State of the State Accountability Report for the first quarter of 2021, the Ekiti State Government disclosed that it needed N60 billion to complete its capital projects.
The report also revealed that the state had a deficit of N1.525,399,044.33 billion in the first quarter of 2021.
In its comparison with its closest comparable state Ebonyi, the report noted that the Ekiti State Government operated on a much lower cost structure.
However, it fell in the ranks when compared to other Southwestern states in the country.
The state government admitted to the need to cut more than N680 million on a monthly basis to survive the current economic state, as observed in the country.
The state Governor, John Kayode Fayemi, was quoted to have said of the state’s economic growth, “We are on a mission of recovery and economic restoration together, and I assure you of our firm commitment to the ideals of a safe, secure, and prosperous Ekiti State.
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“The resources may be limited, but our resourcefulness and creativity are unlimited.”
Ekiti State and its Projects
Projects started by the Fayemi administration are in various levels of completion while expecting the sum of $100 million from the United Nations Office for Project Services (UNOPS) for the development of affordable housing in the state.
Earlier in the year, the state government disclosed that the sum of $5 million was injected into the state’s Ikun Dairy Farm which would serve as a production stop for livestock/milk production in the state.
With the funding, the state government procured 250 cows from the US state of Texas, expecting the production of 10,000 litres of milk.
The accountability report highlighted other significant actions taken by the state government including the payment of more than N2.5 billion as a gratuity to pensioners in the state.
However, it noted that the state had a dwindling revenue and was ranked 31 out of the 36 states in Nigeria on the Internally Generated Revenue (IGR) list.
